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Dentons freezes SIPP and SSAS administration fees for 2021.
Posted on 21/12/2020 by David Fox
As 2020 draws to close, and in recognition of the fact that it has been a very difficult year for many, Dentons is delighted to announce that there will be no increases to its standard administration fees for its self invested personal pension (SIPP) and small self administered scheme (SSAS) arrangements for 2021.
Fees held at 2020 levels
Instead of increasing our fees from 1 January 2021 we are holding these at the same levels as applied during 2020.
This is set against a backdrop of ever-rising industry costs. Indeed, costs such as those may have been an underlying reason for recent fee increase announcements by some other providers of SIPP and SSAS arrangements.
At Dentons, however, we believe that it is appropriate at this time to recognise the difficulties and exceptional circumstances that have prevailed throughout most of 2020 and we have acted accordingly in freezing our fees for the forthcoming year.
Therefore, there will be no change to our SSAS fee schedule for 2021 and the only change affecting our SIPP fee schedule for 2021 will be the introduction of a non-standard asset fee for certain non-standard assets held by a very small percentage of our SIPP clients. Those clients to whom this applies have already heard from us, and they will be aware that the fee is necessary to reflect the additional costs of holding those assets and to ensure that there is fair treatment and allocation of costs across our client base.
We hope that this a very welcome and timely announcement and we look forward to continuing to deliver multi award-winning, industry-leading and unparalleled levels of personal service to our adviser and client communities throughout 2021 and beyond.
Posted on 30/01/2019 by Stephen McPhillips
Majority of advisers believe there will be further SIPP consolidation.